Is New York State Electric And Gas Co Veba Trust Legit?
Quick charity verification for New York State Electric And Gas Co Veba Trust (EIN: 142013396)
Verdict: New York State Electric And Gas Co Veba Trust shows mixed signals
40/100Mission Score
$23.1MRevenue
$9.5MAssets
3Red Flags
2Strengths
Red Flags
Consistent and significant net losses over multiple years (e.g., $11.25M loss in 2023, $11.76M loss in 2022).
Rapid depletion of assets (from $73.5M in 2020 to $17.3M in 2023).
Expenses consistently far exceeding revenue without clear explanation in the provided data.
Strengths
No reported liabilities across all filings, indicating a debt-free status.
No reported officer compensation, suggesting low administrative overhead in this specific area.
Spending Breakdown
How New York State Electric And Gas Co Veba Trust allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about New York State Electric And Gas Co Veba Trust
Is New York State Electric And Gas Co Veba Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, New York State Electric And Gas Co Veba Trust (EIN: 142013396) shows mixed signals. Mission Score: 40/100. 3 red flags identified, 2 strengths noted.
Is New York State Electric And Gas Co Veba Trust a good charity to donate to?
New York State Electric And Gas Co Veba Trust has a Mission Score of 40/100. Revenue: $23.1M. Assets: $9.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New York State Electric And Gas Co Veba Trust?
The Employer Identification Number (EIN) for New York State Electric And Gas Co Veba Trust is 142013396. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does New York State Electric And Gas Co Veba Trust spend its money?
New York State Electric And Gas Co Veba Trust allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New York State Electric And Gas Co Veba Trust's tax-exempt status?
You can verify New York State Electric And Gas Co Veba Trust's tax-exempt status using EIN 142013396 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The New York State Electric And Gas Co Veba Trust exhibits a concerning financial trend with consistent and significant net losses over the past several years. For instance, in 2023, the organization reported revenues of $2,668,790 against expenses of $13,921,900, resulting in a substantial deficit. This pattern of expenses far exceeding revenue is evident in most recent filings, leading to a sharp decline in assets from $73,577,189 in 2020 to $17,386,520 in 2023. While the NTEE code Y43 suggests a trust for employee benefits, which often involves managing assets for future payouts, the rapid depletion of assets without corresponding revenue growth raises questions about the long-term sustainability and management of the trust's principal. The consistent reporting of zero liabilities and zero officer compensation across all filings indicates a potentially simplified operational structure or that these aspects are managed externally or through a parent entity, which could impact the full picture of its financial health and transparency if not fully disclosed elsewhere.